The electronic medical record, or EMR system, refers to an electronic record of an individual's health-related information that can be created, collected, read, and controlled by authorized employees in a health care facility, including physicians. Proper implementation of an EMR system is critical to an organization's Return on Investment (ROI) because it allows for coding/billing accuracy, better charge capture, a reduction in overtime expenses, and a reduction in transcription, overall maintenance, and administrative costs of healthcare institutions.
Summary of the overall experience of the organization
The Glynn Medical Associates experienced an overall upsurge in the ROI after it implemented the EMR system with the total savings realized annually being approximate $200, 000. The EMR system also stamped out the annual transcription costs which amounted to $120, 000. Furthermore, the number of the billing department and medical personnel decreased significantly bringing about a savings of $100,000. Additionally, the EMR system minimized on the space required following a saving of $47,500 per annum. What is more, the number of patients that each physician would see in a day increased by 33 percent hence a rise in ROI. However, the organization experienced an increase in the Information Technology (IT) cost, but these were covered by the $47,500 savings in space.
Determination of whether this was a positive implementation
The EMR system was a positive implementation. The aggregate cost for the implementation of EMR program was estimated at $288,000. However, the total saving with the EMR system in place was $200,000 per year which is 69.44 percent of the total cost. Besides these financial rewards, the EMR system also brought about the ability to access and catch up on notes from the hospital, work from home, and review labs; therefore raising the patient care and quality of life. The system also enabled the physicians’ to attend to more patients.
References
Glynn Medical Associates, (n.d.). Seven Provider Practice Saves Around $200,000/year with EMR System. Achieving ROI with EMR. Brunswick, Ga.
